If you’re considering a move to The Steel City or you’re looking to upgrade, downgrade or invest in a home – we wanted to give you some important information that was released by Real Wealth Network about the market for 2019.
Many are calling it the Pittsburgh Renaissance because of the city’s seemingly overnight transformation of neighborhoods, large tech boom and boutique hotels.
Here are some of the main stats about the city:
- 2.3 million in population
- $59,000 median household income
- 3.8% unemployment rate
- $73,000 median house price
- $858 median monthly rent
Some top things to consider when looking at this market in 2019:
- Pittsburgh continues to evolve and change
- In 2018 UPMC announced plans to invest $200M in an immunology center, which should attract talent to the area
- Predictions that employment opportunities will be rising
- Home prices are still lower than the average U.S. city
- Housing will be affordable – which will allow for extra spending to boost the economy
- There’s a great chance for equity growth in the housing market right now
- "#3 Best Big City to Live" - WalletHub
- "#6 Best City for First Time Home Buyers" - Business Insider
- "#11 Most Affordable City" - Forbes
- "#13 Safest City to Raise a Family" - Good Call
- "26 Rankings that Prove Pittsburgh is Better Than Any Other City" - Made in PGH
- "#48 Fastest Growing City" - Forbes
- "Why Move to Pittsburgh" - Weleski Transfer
- "#7 Cities Where Millennials Are Moving" - Time
- "#1 Best City for Jobs" - Glassdoor
- "#1 city for young people to live based on job opportunities, affordability and livability"
If you’d like to dive deeper into some of the data or have questions about a specific metric, you can visit The Real Wealth Network for more information. And as always, our team is always ready to answer any question that you might have about the moving process and how to make Pittsburgh your next home.